Worldwide air cargo volumes gathered strong momentum in mid-January 2026, continuing a robust post-holiday recovery across most major markets, according to the latest WorldACD Market Data figures. Week 3 (12–18 January) saw an 11 percent week-on-week (WoW) increase, maintaining global tonnages roughly 5 percent above levels from the same period last year, while Europe registered a slight dip.
The rebound follows a 28 percent WoW increase in the previous week and lifts chargeable weight close to pre-holiday season levels, although volumes remain approximately 10 percent below mid-December highs. WorldACD data, covering over 500,000 weekly transactions, highlights broad recovery across multiple regions, including the Middle East & South Asia (MESA), Africa, Asia Pacific, Central & South America, and North America, with only Europe showing a marginal YoY decline of 1 percent.
Regional Performance Highlights
- Middle East & South Asia (MESA): +15% YoY in week 3, despite a small -1% WoW dip.
- Africa: +9% YoY, maintaining steady growth after the holiday slowdown.
- Asia Pacific: +6% YoY, driven by strong intra-Asian and transcontinental demand.
- Central & South America: +5% YoY.
- North America: +2% YoY.
- Europe: Slightly down -1% YoY.
Chargeable weight trends over the past five weeks largely mirror patterns from the same period in 2025, with the exception of slightly elevated tonnages in most regions, signaling a resilient start to 2026.
Air Cargo Rates: Stabilising After Holiday Decline
Global average air cargo rates stabilized in week 3, rising 1 percent WoW to US$2.41 per kilogram, supported by a 4 percent WoW increase in rates from Asia Pacific origins. Spot rates also recorded a modest 1 percent WoW gain, although gains from Asia Pacific origins were limited to 1 percent.
While overall rates are broadly aligned with 2025 levels, some notable regional contrasts emerged:
- Ex-Africa spot rates: Up +14% YoY.
- Ex-MESA spot rates: Down -19% YoY from last year’s elevated levels.
- Asia Pacific origins: Spot rates -3% YoY.
These figures reflect a market where capacity growth (+9% YoY) has outpaced chargeable weight increases (+5% YoY), creating a delicate balance between volume recovery and pricing stability.
Asia Pacific Leads Growth in Key Trade Lanes
Air cargo flows from Asia Pacific to Europe showed particularly strong early-year growth, with week 3 volumes up 19 percent YoY. The surge was led by:
- China: +17% YoY
- Hong Kong: +30% YoY
- Taiwan: Double-digit growth
- Southeast Asia: Thailand +32%, Malaysia +26%
Japan (-3%) and South Korea (+1%) lagged slightly, reflecting uneven regional performance. Meanwhile, Asia Pacific to the US volumes rose 6 percent YoY, although with marked disparities: China and Hong Kong saw declines (-12%), while South Korea, Taiwan, and Southeast Asia recorded robust gains. Notably, shipments from Vietnam and Thailand to the US increased around 50 percent YoY, maintaining strong multi-month growth trends.
Mixed Pricing Trends
Spot rate movements were more uneven. Asia Pacific to Europe spot rates dipped 3 percent WoW, with most origins down except CN/HK, which remained stable. Compared with last year, these rates were 12 percent lower, though Taiwan (+11%) and Singapore (+9%) bucked the trend.
Conversely, Asia Pacific to US spot rates rose modestly 3 percent WoW but remained 11 percent below year-ago levels, with Singapore being the only flat performer YoY.
Outlook
The strong rebound in volumes, coupled with stabilizing rates, indicates a resilient start to 2026 for global air cargo markets. Asia Pacific-origin flows, particularly to Europe, are driving growth, while regional disparities highlight the continuing complexity of transcontinental cargo logistics. Analysts expect volumes to remain robust as supply chains adjust to post-holiday recovery, capacity expansions, and shifting demand patterns across key trade lanes.
